STOCK MARKET BSE NSE

Sahara group seeks change in apex court order

Published: 29th October 2013 03:18 PM  |   Last Updated: 29th October 2013 03:22 PM   |  A+A-

Subrata-Roy_AP

The Sahara Group Tuesday sought change in the apex court order that restrains its chief Subrata Roy and its two directors from going abroad till they submit original title deeds of assets totally valued at Rs.20,000 crore.

The title deeds to assets worth Rs.20,000 crore would cover the amount that the Sahara Group has to give to SEBI (Securities and Exchange Board of India) to return to investors the Rs.24,000 crore that its two real estate and finance companies had collected.

Senior counsel C.A. Sundaram, representing the Sahara Group, told the apex court bench headed by Justice K.S. Radhakrishnan that there was an error in the court's order as it wanted to say: "If we don't comply with the order, the alleged contemners will be restrained from leaving the country after three weeks but the order instead says till we comply with order."

This is not what court had intended to say, Sundaram told the court.

At this, Justice Radhakrishnan said it was not the bench which had passed the order and said he will consult Justice J.S. Khehar and consider the plea for modifying the order.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp